Appendix H
3-Year Financial Plan
NAPERVILLE PARK DISTRICT CASH-IN-LIEU FUND FORECAST
2019 ACTUAL 2020 ACTUAL 2021 ACTUAL 2022 BUDGET 2023 FORECAST 2024 FORECAST
Beginning Fund Balance
$ 4,203,724
$ 4,802,995
$ 2,446,726
$ 4,701,082
$ 4,709,982
$ 4,744,982
Investment Income Alternative Revenue Total Revenues
122,523
58,175
(860)
8,900
35,000
40,000
3,707,448 3,829,971 3,230,700 3,230,700
709,056 767,231 3,123,500 3,123,500 (2,356,269)
2,255,216 2,254,356
8,900
35,000
40,000
Transfers Out
Total Expenditures Surplus (Deficit) Ending Fund Balance Fund Balance Target
0
0
0
599,271
2,254,356
8,900
35,000
40,000
$4,802,995
$2,446,726
$4,701,082
$4,709,982
$4,744,982
$4,784,982
$0
$0
$0
$0
$0
$0
Cash-In-Lieu The Naperville Municipal Ordinance 7-3-5, the Dedication of Park Lands and School Sites or for Payments or Fees in Lieu of, requires developers to provide “land for park and recreational purposes and land for school sites, to serve the immediate and future needs of the residents of the development, or cash contribution in lieu of actual land dedication, or a combination of both, based on the recommendation of the public body which will be the recipient of the contribution, but subject to final determination of the City Council.” The ordinance is based on a standard of 8.6 acres of park land per 1,000 population. In August 2007, the City increased the Fair Market Value referenced in the ordinance to $323,600 per acre. In 2019 and 2020, Cash-In-Lieu funding was used
for the development of the 95th Street Community Plaza and the Knoch Park Field Redevelopment project. The District took the most conservative approach and assumed zero Cash-In-Lieu receipts for 2022-2024.
246 Naperville Park District | 2023 MASTER PLAN
3-YEAR FINANCIAL PLAN 2022-2024 18
NAPERVILLEPARKS.ORG
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